Bitcoin is not spooked by banking chaos

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin is not spooked by banking chaos
FxPro | 980天前

Market picture

Bitcoin was approaching $26.5K on Tuesday but almost nullified the rise by the end of the day. On Wednesday, we still see a tug-of-war near $25.0K. Bitcoin got a pull on a wave of fears around the banking system - markets shifted sharply to the problems at Credit Suisse today, causing a sell-off in the euro and a jump in gold and silver. 

Moving away from the news backdrop, Bitcoin prices are returning under the 200-week average, failing to go immediately higher. Technically, an important signal of a return to a long-term bullish trend would be a consolidation above $25K at the end of the week. 

Nevertheless, keeping the price above 20K and the 200-day average looks like a sufficient condition that Bitcoin is not ready to sharply decline further and remains interesting for buying on declines. Not least because of large investors' distrust of the banking system.

News background

The Chicago Mercantile Exchange (CME Group) has launched "event-based contracts" for bitcoin futures. The deal is capped at $20 and allows betting on an event at the end of each trading session. The new product will give the platform's clients "a cheaper way to trade BTC", the CME stressed.

Meta has announced discontinuing support for non-exchangeable tokens (NFT) on its Facebook and Instagram social media platforms. These options were added just ten months ago.

Cryptocurrency conglomerate Digital Currency Group (DCG) reported that big banks are not refusing to work with cryptocurrency companies, although they may impose restrictions.

By the FxPro analyst team

FxPro
類型: NDD
規則: FCA (UK), SCB (The Bahamas)
read more
ATFX Market Outlook 20th November 2025

ATFX Market Outlook 20th November 2025

The latest Federal Reserve minutes showed that several policymakers opposed another rate cut in December, further deepening doubts over whether the Fed will lower borrowing costs again at its December 9–10 meeting. Traders now assign only about 25% probability to a December cut. The Dow Jones rose 0.1%, the S&P 500 gained 0.38%, and the Nasdaq advanced 0.59%.
ATFX | 3小時51分鐘前
The Dollar's new edge: from shield to sword

The Dollar's new edge: from shield to sword

•The dollar is losing its safe-haven status. •The scale of the Fed's rate cuts has been overestimated. •The yen is the main favourite for 2026. •BoJ may not raise rates until March.
FxPro | 20小時47分鐘前
The Dollar's new edge: from shield to sword

The Dollar's new edge: from shield to sword

•The dollar is losing its safe-haven status. •The scale of the Fed's rate cuts has been overestimated. •The yen is the main favourite for 2026. •BoJ may not raise rates until March.
FxPro | 20小時47分鐘前
The crypto market takes a break from its decline

The crypto market takes a break from its decline

Sentiment has slightly improved but remains in extreme fear, suggesting caution. Bitcoin is trading around $91K, with buyers stepping in below $90K, though the broader downtrend continues with no clear catalyst for reversal.
FxPro | 22小時0分鐘前
The crypto market takes a break from its decline

The crypto market takes a break from its decline

Sentiment has slightly improved but remains in extreme fear, suggesting caution. Bitcoin is trading around $91K, with buyers stepping in below $90K, though the broader downtrend continues with no clear catalyst for reversal.
FxPro | 22小時0分鐘前